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Pay Rs 6,000 crore by February 6 or face jail: SC to Sahara's Subrata

In his plea, Roy has cited demonetisation and economic slowdown for extension of time to pay Rs 600 crore.

Published: 12th January 2017 03:44 PM  |   Last Updated: 12th January 2017 03:51 PM   |  A+A-

Supreme Court | (File Photo/PTI)

By Express News Service

NEW DELHI: The Supreme Court on Thursday gave a last warning to Sahara Chief Subrata Roy to pay Rs 6000 crore by February 6 or else face jail while refusing to grant more time to him.

"If Sahara Chief does not pay the amount by Feb 6, he shall commit himself to jail," the apex court said.

In his plea, Roy has cited demonetisation and economic slowdown for extension of time to pay Rs 600 crore.

The Supreme Court, however, granted liberty to Sahara chief to transfer 35 million pound deposited in London Bank to SEBI.

"Too much indulgence has already been given to Sahara, more than any other litigant," the court said.

The court also told Roy that, "Its properties would be attached and sold through auction if company fails to pay the amount  on time."

Last year, the court had asked him to deposit Rs 600 crore more by February 6 this year in the SEBI-Sahara refund account to remain out of jail and had cautioned him that in case of failure, he would have to return to prison.

SEBI had told the court that Sahara Group was liable to pay Rs 37,000 crore with interest to SEBI, of which the principal amount payable was Rs 24,000 crore.

Sahara has already paid Rs 10,918 crore out of Rs 24,029 crore raised from investors, SEBI had said.

The court has been extending the parole of Roy and two directors Ashok Roy Choudhary and Ravi Shankar Dubey on payment of certain amount in the SEBI-Sahara refund account.



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